Alcon to acquire cataract surgery laser developer LenSx Lasers

14 July 2010

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Alcon, Inc. (NYSE: ACL) has agreed to acquire LenSx Lasers,
Inc, a privately held company that developed the first femtosecond laser
to receive US FDA clearance for use as a part of cataract surgery.

The LenSx system is indicated for anterior capsulotomy and laser
phacofragmentation during cataract surgery, providing a
complementary surgical approach to certain manual steps within the
traditional cataract procedure.

“The LenSx femtosecond laser has been designed to advance the
precision and reproducibility of key manual portions of the cataract
procedure, something we have seen lasers do repeatedly in other
ophthalmic procedures”

Alcon will pay US $361.5 million in cash to LenSx shareholders
for their shares, plus maximum contingent payments of US $382.5
million based upon the achievement and over-achievement of future
femtosecond unit and procedure fee revenue milestones. The closing
of this acquisition is subject to receipt of required regulatory
approvals and customary closing conditions.

The innovative LenSx laser platform enables surgeons to perform
some of the most delicate manual steps of cataract surgery with
image-guided visualization and micron level laser precision. The
LenSx laser enhances a surgeon’s ability to predictably create a
well centered anterior capsulorhexis of exact diameter, and to
effectively fragment the lens for removal with minimized phaco time
and power.

“This complementary technology aligns with Alcon’s strategic
focus to help surgeons improve every step of the cataract procedure.
The LenSx laser provides surgeons a new level of predictability and
control over critical manual steps during cataract removal – making
those steps more precise and reliable,” said Stuart Raetzman, vice
president, Global Marketing and area president for the United
States.

“The LenSx femtosecond laser has been designed to advance the
precision and reproducibility of key manual portions of the cataract
procedure, something we have seen lasers do repeatedly in other
ophthalmic procedures,” said Stephen Slade, M.D., Slade and Baker
Vision, Houston, TX, who performed the initial series of LenSx laser
procedures in the United States.

“This laser delivered improved post-surgical refractive outcomes
for my patients with a more exact size, shape and centration of the
capsulotomy and precise centering of the intraocular lens. I was
able to reduce the phacoemulsification energy and time – further
enhancing cataract surgery by providing a safe and more accurate
refractive outcome. From a patient’s perspective, I have never seen
the potential benefits of a technology so quickly understood and
accepted.”

About cataract surgery

Cataracts are the world’s leading cause of treatable blindness
and cataract surgery is the most frequently performed ophthalmic
procedure globally. A cataract cannot be prevented and is a
“clouding” of the eye’s natural lens, which results in blurred or
defocused vision. Cataract surgery is a simple operation where a
surgeon removes the eye's clouded natural lens and replaces it with
an artificial intraocular lens. Femtosecond lasers have been used
for more than 3 million LASIK refractive surgical procedures and now
the LenSx laser system brings laser technology to cataract surgery
for the first time.